Accounting homework help

Accounting homework help. 9-45 AND 9-46 should be prepared in a Word document with embedded Excel spreadsheets for relevant calculations and supporting schedules. You still need to post your Excel worksheet to show support for your calculations. Note, you must show your work in Excel, which includes providing the formulas in the cells, not just the summary value. You may not earn full points if you do not show your work in detail. Suggestion: To complete all parts of the problems correctly you should start each assignment with preparing an Excel workbook. The response for both cases should be between 250-500 words each.
City racquetball club (CRC) offers racquetball and other physical fitness facilities to its members.  There are four of these clubs in the metropolitan area.  Each club has btween 1,800 and 2,500 members.  Revenue is derived from annual membership fees and hourly court fees.  The annual membership fees are as follows:
The hourly court fees from $6 to $10 depending upon the season and the time of day (prime versus nonprime time).
The peak racquetball season is considered to run from September through April.  During this eriod, court usage averages 90 to 100 percent of capacity during prime time (5:00-9:00pm) and 50 to 60 percent of capacity during the remaining hours. Daily court usage during the off-season (i.e. summer) averages only 20-40 percent of capacity
Most of CRC—s memberships have September expirations. A substantial amount of the cash receipts are collected during the early part of the racquetball season due to the renewal of the annual membership fees and heavy court usage.  However, cash receipts are not as large in the spring and drop significantly in the summer months.
CRC is considering changing its membership and fee structure in an attempt to change its cash receipts.  Under the new membership plan, only an annual membership fee would be charged, rather than a membership fee plus hourly court fees.  There would be two classes of memberships as follows:
The annual fee would be collected in advance at the time the membership application is completed.  Members would be allowed to use the racquetball courts as often as they wish during the year under the new plan.
All future memberships would be sold under the new terms.  Current memberships would be honored on the old basis until they expire. However, a special promotional campaign would be instituted to attract new members and to encourage current members to convert to the new membership plan immediately.
The annual fees for individual and family memberships would be reduced to $200 and $300, respectively, during the two-month promotional campaign,  in addition, all memberships sold or renewed during this period would be for 15 months rather than the normal one-year period.  Current members also would be given a credit toward the annual fee for the unexpired portion of their membership fee, and for all prepaid hourly court fees for league play that have not yet been used.
CRC’s management estimates that 60 to 70 percent of the present membership would continue with the club.  The most active members (45 percent of the present membership) would convert immediately to the new plan, while the remaining members who continue would wait until their current memberships expire.  Those members who would not continue are not considered active (i.e. they play five or less times during the year).  Management estimates that the loss of members would be offset fully by new members within six months of instituting the new plan.  Furthermore, many of the new members would be individuals who would play during nonprime time.  Management estimates that adequate court time will be available for all members under the new plan.
If the new membership plan is adopted, it would be instituted on February 1, well before the summer season.  The special promotional campaign would be conducted during march and April.  Once the plan is implemented, annual renewal of memberships and payment of fees would take place as each individual or family membership expires.
REQUIRED:  your consulting firm has been hired to help CRC evaluate its new fee structure.  Write a letter to the clubs president answering the following questions:

  1. Will city Racquetball Club’s new membership plan and fee structure improve its ability to plan its cash receipts? Explain your answer?
  2. City Racquetball Club should evaluate the new membership plan and fee structure completely before it decides to adopt or reject it.
    1. Identify the key factors that CRC should consider in its evaluation.
    2. Explain what type of financial analyses CRC should prepare in order to make a complete evaluation
  3. Explain how City Racquetball Club’s cash management would differ from the present if the new membership plan and fee structure were adopted.

Patricia Eklund, controller in the division of social services for the state, recognizes the importance of the budgetary process for planning, control, and motivational purposes.  She believes that a properly implemented participative budgetary process for planning purposes and an evaluation procedure will motivate the managers to improve productivity within their particular departments.  Based upon this philosophy. Eklund has implemented the following budgetary procedures.
*an appropriation target figure is given to each department manager.  This amount is the maximum funding that each department can expect to receive in the next year.
*Department managers develop their individual budgets within the following spending constraints as directed by the controller’s staff.
*expenditure requests cannot exceed the appropriation target.
*all fixed expenditures should be included in the budget.  Fixed expenditures would include such items as contracts and salaries at current levels.
*all government projects directed by higher authority should be included in the budget in their entirety.
*the controller’s staff consolidates the budget requests from the various departments into a master budget submission for the entire division.
*upon final budget approval by the legislature, the controller’s staff allocates the appropriation to the various departments or instructions from the division manager.  However, a specified percentage of each department’s appropriation is held back in anticipation of potential budget cuts and special funding needs. The amount and use of this contingency fund is left to the discretion of the division manager.
*each department is allowed to adjust its budget when necessary to operate within the reduced appropriation level. However, as stated in the original directive, specific projects authorized by higher authority must remain intact.
* the final budget is used as the basis of control. Excessive expenditures by account for each department are highlighted on a monthly basis.  Department managers are expected to account for all expenditures over budget.  Fiscal responsibility is an important factor in the overall performance evaluation of department managers.
Eklund believes her policy for allowing the department managers to participate in the budgetary process and then holding them accountable for their performance is essential, e especially during times of limited resources.  She further believes that the department managers will be positively motivated to increase the efficiency and effectiveness of their departments because they have provided input into the initial budgetary process and are required to justify any unfavorable performances.

  1. Describe several operational and behavioral benefits that are generally attributed to a participative budgetary process.
  2. Identify at least four deficiencies in Patricia Eklund’s participative policy for planning and performance evaluation purposes. For each deficiency identified, recommend how it can be corrected.


Accounting homework help


15% off for this assignment.

Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!

Why US?

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Money Back

If you are convinced that our writer has not followed your requirements, feel free to ask for a refund.